QUALITY LIFT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
QUALITY LIFT
Largest movements
- Receivables within one year +€168,006
up €168,006 (+82.5%), from €203,761 to €371,767
of which Trade receivables: +€192,788
- Deferred charges and accrued income +€97,570
up €97,570 (+2,253%), from €4,330 to €101,900
- Stocks and contracts +€92,191
up €92,191 (+41.9%), from €219,996 to €312,186
of which Stocks: +€113,456
- Tangible fixed assets +€74,333
up €74,333 (+21.5%), from €346,433 to €420,766
of which Furniture and vehicles: +€86,398
- Cash -€16,381
down €16,381 (-38.5%), from €42,543 to €26,163
mainly Contributions, distributions and other (-€225,449) and Receivables within one year (-€168,006)
- Trade debts +€174,214
up €174,214 (+88.0%), from €197,994 to €372,208
- Other debts +€107,296
up €107,296, from €0 to €107,296
- Reserves +€40,995
up €40,995 (+11.8%), from €348,253 to €389,249
- Tax, wage and social debts +€36,850
up €36,850 (+122%), from €30,082 to €66,932
of which Taxes: +€35,245
- Accrued charges and deferred income +€20,961
up €20,961 (+70.1%), from €29,918 to €50,879
- Gross operating margin +€369,269
up €369,269 (+103%), from €358,655 to €727,924
- Taxes +€119,278
up €119,278 (+49,158%), from €243 to €119,521
- Other operating charges -€22,931
down €22,931 (-84.8%), from €27,028 to €4,098
- Staff costs +€9,306
up €9,306 (+3.4%), from €274,361 to €283,667
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €888,663 | €1,291,870 | +€403,206 | +45.4% |
| Fixed assets | 21/28 | €349,125 | €422,466 | +€73,341 | +21.0% |
| Intangible fixed assets | 21 | €992 | €0 | -€992 | -100% |
| Tangible fixed assets | 22/27 | €346,433 | €420,766 | +€74,333 | +21.5% |
| Land and buildings | 22 | €274,659 | €266,629 | -€8,030 | -2.9% |
| Plant, machinery and equipment | 23 | €45,396 | €41,361 | -€4,035 | -8.9% |
| Furniture and vehicles | 24 | €26,378 | €112,776 | +€86,398 | +328% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €539,538 | €869,404 | +€329,865 | +61.1% |
| Stocks and contracts in progress | 3 | €219,996 | €312,186 | +€92,191 | +41.9% |
| Stocks | 30/36 | €198,731 | €312,186 | +€113,456 | +57.1% |
| Contracts in progress | 37 | €21,265 | €0 | -€21,265 | -100% |
| Amounts receivable within one year | 40/41 | €203,761 | €371,767 | +€168,006 | +82.5% |
| Trade receivables | 40 | €178,979 | €371,767 | +€192,788 | +108% |
| Other amounts receivable | 41 | €24,782 | €0 | -€24,782 | -100% |
| Current investments | 50/53 | €68,909 | €57,388 | -€11,521 | -16.7% |
| Cash at bank and in hand | 54/58 | €42,543 | €26,163 | -€16,381 | -38.5% |
| Deferred charges and accrued income | 490/1 | €4,330 | €101,900 | +€97,570 | +2,253% |
| Total equity and liabilities | 10/49 | €888,663 | €1,291,870 | +€403,206 | +45.4% |
| Equity | 10/15 | €358,342 | €401,649 | +€43,306 | +12.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €348,253 | €389,249 | +€40,995 | +11.8% |
| Distributable reserves | 133 | €348,253 | €389,249 | +€40,995 | +11.8% |
| Profit (loss) carried forward | 14 | -€2,311 | €0 | +€2,311 | |
| Amounts payable | 17/49 | €530,321 | €890,221 | +€359,900 | +67.9% |
| Amounts payable after more than one year | 17 | €81,148 | €86,595 | +€5,448 | +6.7% |
| Financial debts | 170/4 | €81,148 | €86,595 | +€5,448 | +6.7% |
| Amounts payable within one year | 42/48 | €419,255 | €752,747 | +€333,492 | +79.5% |
| Current portion of amounts payable after more than one year | 42 | €31,179 | €46,312 | +€15,133 | +48.5% |
| Financial debts | 43 | €160,000 | €160,000 | = | 0.0% |
| Credit institutions | 430/8 | €160,000 | €160,000 | = | 0.0% |
| Trade debts | 44 | €197,994 | €372,208 | +€174,214 | +88.0% |
| Suppliers | 440/4 | €197,994 | €372,208 | +€174,214 | +88.0% |
| Taxes, remuneration and social security | 45 | €30,082 | €66,932 | +€36,850 | +122% |
| Taxes | 450/3 | €6,519 | €41,764 | +€35,245 | +541% |
| Remuneration and social security | 454/9 | €23,563 | €25,168 | +€1,604 | +6.8% |
| Other amounts payable | 47/48 | €0 | €107,296 | +€107,296 | |
| Accrued charges and deferred income | 492/3 | €29,918 | €50,879 | +€20,961 | +70.1% |
| Non-recurring operating income | 76A | €413 | €12,174 | +€11,760 | +2,846% |
| Remuneration, social security and pensions | 62 | €274,361 | €283,667 | +€9,306 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,026 | €35,973 | +€2,947 | +8.9% |
| Other operating charges | 640/8 | €27,028 | €4,098 | -€22,931 | -84.8% |
| Non-recurring operating charges | 66A | €3,276 | €0 | -€3,276 | -100% |
| Gross operating margin | 9900 | €358,655 | €727,924 | +€369,269 | +103% |
| Operating profit (loss) | 9901 | €20,964 | €404,187 | +€383,223 | +1,828% |
| Financial income | 75/76B | €1,601 | €4,943 | +€3,342 | +209% |
| Recurring financial income | 75 | €106 | €4,943 | +€4,837 | +4,564% |
| Non-recurring financial income | 76B | €1,495 | €0 | -€1,495 | -100% |
| Financial charges | 65/66B | €24,633 | €20,855 | -€3,779 | -15.3% |
| Recurring financial charges | 65 | €24,633 | €20,855 | -€3,779 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,068 | €388,276 | +€390,344 | |
| Income taxes | 67/77 | €243 | €119,521 | +€119,278 | +49,158% |
| Profit (loss) for the period | 9904 | -€2,311 | €268,755 | +€271,066 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,311 | €268,755 | +€271,066 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.